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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
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AZIMUTH POST PRODUCTION LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
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FOR |
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AZIMUTH POST PRODUCTION LIMITED |
AZIMUTH POST PRODUCTION LIMITED (REGISTERED NUMBER: 06498708) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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AZIMUTH POST PRODUCTION LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
and Chartered Tax Advisers |
Larch House |
Parklands Business Park |
Denmead |
Hampshire |
PO7 6XP |
AZIMUTH POST PRODUCTION LIMITED (REGISTERED NUMBER: 06498708) |
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BALANCE SHEET |
31 DECEMBER 2020 |
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31.12.20 | 31.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
AZIMUTH POST PRODUCTION LIMITED (REGISTERED NUMBER: 06498708) |
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BALANCE SHEET - continued |
31 DECEMBER 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved and authorised for issue by the director and authorised for issue on
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AZIMUTH POST PRODUCTION LIMITED (REGISTERED NUMBER: 06498708) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Azimuth Post Production Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements show a net current liability and net liability position at the balance sheet date. This position is due to amounts owed to the director and other group companies. The director and the other group companies have agreed not to seek repayment of the money owed to them unless the company has sufficient funds to do so. The director, on this basis, has prepared the financial statements on the going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
AZIMUTH POST PRODUCTION LIMITED (REGISTERED NUMBER: 06498708) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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Charge for year |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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AZIMUTH POST PRODUCTION LIMITED (REGISTERED NUMBER: 06498708) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.20 | 31.12.19 |
£ | £ |
Within one year |
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Between one and five years |
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9. | RELATED PARTY DISCLOSURES |
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The aggregate amount owed to the director at the balance sheet date is £782,607 (31.12.19: £782,607). |
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The aggregate amount owed to group undertakings at the balance sheet date is £1,254,172 (31.12.19: £1,466.330). |
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During the period the company invoiced £1,506,200 (31.12.19: £1,058,734) to other group entities for post production services, archive storage, rent and management charges. |
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During the period the company was invoiced £44,100 (31.12.19: £40,100) from other group entities for staff recharges. |
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10. | POST BALANCE SHEET EVENTS |
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The COVID-19 pandemic has impacted local and global markets and is expected to continue to shape the economic landscape for the immediate future. The director continues to monitor closely the impact of unfolding events in order to respond swiftly to any consequential implications on the business. |
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11. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party as no one individual has a greater than 50% shareholding. |
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The ultimate parent company is OR Holdings and Investments Limited, a company registered in England and Wales. |